Need some Opinions

DaveB

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Sep 3, 2008
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Shelby County
My Daughter has created a cheese cake of her own recipe and no, she does not share the recipe.

It is so good at least two local places are asking her to go into business.

Daughter is going through yes no yes no yes no state of mind on taking something she really likes and doing it for a living.

I am encouraging her to go for it.

What are your thoughts?
 

Jon

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Warren co.
Make sure she understands how to run a cost of doing business analysis. This includes her time as it is very valuable. Don't let her sell herself short if she has a good product she needs to sell it for a price she can make money and not just work herself to death.

Jon
 

Chaneylake

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on the wings of a snow white dove
Make sure she understands how to run a cost of doing business analysis. This includes her time as it is very valuable. Don't let her sell herself short if she has a good product she needs to sell it for a price she can make money and not just work herself to death.

Jon
so true.
if customer complains very much you are to high.
if customer pays without question then you are to low.

If customer hesitates then pays you are just right.
 

TAFKAP

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I think there are some commercial kitchens around town that rent out space, so that will allow her to test the waters of commercial production without having to invest a ton of money on equipment and storefront space. Going that route will allow her to produce a niche product in a boutique sort of demand. That would allow her to grow and develop the business and demand.....
 

Pilchard

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Dreaming of Tarpon
Go for it. She sells by the cake, restaurant sells by the slice. Both can have profit margin.

Considerations:

Test freezability(if that's a word) and shelf life to see if she can make in larger batches. Does this impact quality? If so, fresh cakes will become harder to keep up with as demand increases.

Buy all ingredients and then determine the cost to make each cake. Add cost of time and delivery to see what price needs to be to break even? How much profit is required? How many cakes need to be sold weekly? She will need to reinvest early profit back into the business.

How will she collect payment? Perhaps setting up a separate checking account to truly be able to track P&L.

Can she sell? How will she acquire new accounts? Social media can help here. Get the restaurants and their patrons to offer reviews.

Set up sample days at the participating restaurants where she gives away a taste for free. Give away business cards to the people who get a sample to increase direct-to-consumer sales.

BTW, I help build market entry and growth strategies for large companies looking to enter new markets. If I can help in any way, just let me know.
 

TAFKAP

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There's plenty of room at the various local Farmers Markets to sell stuff like that. Partnering with a vendor that's already established may be a good route as well.
 

BigRod

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Oct 3, 2007
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Anderson County, Tn
That's a tough call, if cooking is something she enjoys doing and if she doesn't think doing it for a living will make her not like it, then go for it. I grew up fly fishing the tail waters of East Tn, I could catch fish hand over fist, i thought I want to make money and guide, long story short, what was once my passion, turned into me hating it!!
 

Displaced_Vol

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Oct 4, 2019
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Kentucky
Plenty of good, more serious advice here so I'd just add what's the harm in trying? This doesn't seem like it's going to be too much a financial or professional risk why not give it a go and see how she likes it?
 

DaveB

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Sep 3, 2008
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Shelby County
Daughter has an established track record in the retail selling business...has priced almost everything in various quantities and from various suppliers.....based on very recent experience can produce up to 8 a day if need arises (picture a wedding).

She is still thinking...May pursue two avenues simultaneously....getting a license in her current field of specialization (already in progress) and starting up the cheesecake business.

I'll keep you updated.
 

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